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☆ The tax-extension deadline is Oct. 16. Here are 3 things to know if you still haven't filed
  + stars: | 2023-10-10 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
DjelicS | GettyIf you filed a tax extension for more time on your 2022 return, the deadline is fast approaching. The federal tax-extension deadline on Oct. 16 is the last chance to avoid a late filing penalty, according to the IRS. Here are three things to know if you still haven't filed your 2022 return, according to financial experts. The failure-to-file penalty is 5% of unpaid taxes for each month or part of month until filing, capped at 25%, she said. You may be eligible for IRS Free FileRoughly 70% of taxpayers qualify for IRS Free File but only 2% used it during the 2022 filing season, according to the National Taxpayer Advocate.
Persons: Chris Cybulski, Kassi, Judy Brown Organizations: Financial, Artica Financial Services, IRS, National Taxpayer, SC, H, Washington and, CNBC, Scott Bishop, Presidio Wealth Partners Locations: Austin , Texas, manila, Anchorage , Alaska, Washington, Washington and Baltimore, Houston
☆ Air quality in NYC could gradually improve Friday as U.S. chips in to fight Canada wildfires
  + stars: | 2023-06-08 | by ( Emma Newburger | ) www.cnbc.com   time to read: +1 min
NEW YORK, UNITED STATES - JUNE 7: People wear facial masks on June 7, 2023 because of bad air quality brought in by smoke of Canadian wildfires. Authorities urge people to wear masks, all outdoor activities for school children were canceled as well as regular baseball game at Yankee stadium between Yankees and White Sox. New York City continues to have the worst air pollution in the world as of Thursday afternoon. However, smoke models do not currently indicate another large plume over the city and better air quality is expected Friday, according to Mayor Eric Adams. The Washington and Baltimore regions have also been hit with the worst air quality in years.
Persons: Lev Radin, Eric Adams Organizations: UNITED STATES, Yankee, White Sox, Anadolu Agency, Getty, D.C, Major League Baseball, National Weather Service, New Locations: Anadolu, Canada, Boston, Philadelphia, Washington, New York City, Northeast, Midwest, Ohio, The Washington, Baltimore
☆ 5 ways to file your taxes for free this season
  + stars: | 2023-03-07 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +3 min
IRS Free FileIRS Free File offers free online guided tax preparation for your federal tax returns and some state filings if your adjusted gross income was $73,000 or less in 2022. It's a good option for those who have simple returns, don't need ongoing tax planning advice and could benefit financially from the free service. Although 70% of taxpayers qualify for IRS Free File, only 2% used it during the 2022 filing season, according to the National Taxpayer Advocate. Tax prep for older AmericansOlder Americans may also qualify for free in-person and virtual tax help through the AARP Foundation Tax-Aide program. The program works with VITA and Tax Counseling for the Elderly, or TCE, which also provides free tax preparation for those who qualify.
☆ Roughly 70% of taxpayers are eligible for IRS Free File, but only 2% used it in 2022
  + stars: | 2023-02-02 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
Roughly 70% of taxpayers qualify to use IRS Free File, but only 2% used it during the 2022 filing season, according to the National Taxpayer Advocate's annual report to Congress. A public-private partnership between the IRS and the Free File Alliance, the service offers free online guided tax preparation from partner companies for federal returns (and some state filings). You may qualify if your 2022 adjusted gross income was $73,000 or less. How Free File worksTo get started with Free File, you'll need last year's adjusted gross income for verification, your Social Security number and the necessary tax forms. Free File may not work for all taxpayersWhile Free File isn't widely used, some experts say it won't work for more complicated returns.
☆ You Call That Snow?! See How This Winter Stacks Up.
  + stars: | 2023-01-26 | by ( Francesca Paris | ) www.nytimes.com   time to read: +7 min
If so, you’re not alone: It has been a dreary winter for children hoping for snow days and grown-up snow enthusiasts alike on the East Coast. More than 50 years of snowfall in … Interactive line chart showing cumulative snowfall for each winter season over 50 years, as well as the median snowfall for all seasons. Line chart showing Philadelphia’s cumulative snowfall for each winter season over 50 years. Loading dataLine chart showing Boston’s cumulative snowfall for each winter season over 50 years. Milwaukee Pittsburgh Providence, R.I. Pueblo, Colo. Richmond, Va. Rockford, Ill. St. Louis Topeka, Kan. About normal snow Anchorage Boise, Idaho Colorado Springs Columbia, Mo.
☆ ‘Don’t wait until March’ to hire a tax pro, says advisor — 3 moves to make before the 2023 tax filing season opens
  + stars: | 2023-01-11 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
Take steps to reduce your 2022 tax billWhile many tax planning opportunities vanish after year-end, experts say there are still a few ways to trim your 2022 tax bill. I believe there is tremendous value in thinking ahead and coordinating both your tax and financial planning strategies. You can also still make individual retirement account contributions until the tax-filing deadline on April 18, 2023, said Brown, who is also a CPA. "If you have not already done so, review last year's records and create a checklist of the forms" you're expecting, he suggested. For deductions, you may have 1098 for mortgage interest, 5498 for individual retirement account deposits, 5498-SA for health savings account contributions and more.
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